Stock Yards Bank & Trust Co. Sells 30 Shares of Watsco, Inc. (NYSE:WSO)

Stock Yards Bank & Trust Co. decreased its holdings in Watsco, Inc. (NYSE:WSO) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,868 shares of the construction company’s stock after selling 30 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Watsco were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WSO. FMR LLC increased its holdings in shares of Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after acquiring an additional 62,041 shares during the period. State Street Corp raised its holdings in Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after acquiring an additional 65,846 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Watsco by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock valued at $371,126,000 after acquiring an additional 9,141 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WSO. Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company.

Watsco Stock Performance

Shares of WSO opened at $511.19 on Friday. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 39.50 and a beta of 0.92. The business’s fifty day moving average is $512.25 and its 200-day moving average is $490.70.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm posted $4.35 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.11%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.